INSIDER VIEW
VALIANT’s experience of the local industrial landscape and its regulatory requirements places it in a unique position. With IOCs seeking to meet the obligations of the Local Content Act, only indigenous firms with the right expertise can be in a position to offer their services in those areas that were previously the preserve of international contractors.
We offer:
- An enabling environment for our clients
- Guidance through the regularity complexities
- Familiarity with the oil & gas industry in Nigeria and West Africa
- Full access to skilled Nigerian labour and materials resources
Implementation of the 2010 Nigerian Oil and Gas Industry Content Development Act has raised the share of in-country sector spending, contracting and funding.
The Nigerian Government has set a minimum local content target for all works and contracts to be undertaken in or on behalf of all oil & gas companies operating in the Nigerian oil & gas industry.
To meet this target, processes are now in place including a contract evaluation and award criteria. This favours bids that meet or exceed the minimum local content target. The Nigerian government, via the NCDMB (Nigerian Content Development & Monitoring Board), has issued a list of categories of work that must be executed in Nigeria.
At VALIANT, we are of the view that maximising local content is not only politically sensible but it makes good business sense. Lower composite rates can be realised by increasing Nigerian labour and materials resources, especially where these are readily available and the prices are commercially attractive.
THE LOCAL IMPERATIVE
Implementation of the 2010 Nigerian Oil and Gas Industry Content Development Act has raised the share of in-country sector spending, contracting and funding.
With international oil companies (IOCs) seeking to meet the obligations of the Act, we recognise, however, that only those local firms with the right expertise and experience can be in a position to offer their services in those areas that were previously the preserve of international contractors.
VALIANT is the only Nigerian company now offering its combination of international drilling expertise, drilling rigs and associated equipment, and local knowledge of the Nigerian market and Nigerian content legislation.
The Nigerian Government has set a minimum local content target for all works and contracts to be undertaken in or on behalf of all oil & gas companies operating in the Nigerian oil & gas industry. This target is fully supported by the oil & gas companies operating in Nigeria. To meet this target a number of processes are now in place including a contract evaluation and award criteria, which favours bids that meet or exceed the minimum local content target. The Nigerian government, via the NCDMB (Nigerian Content Development & Monitoring Board), has issued a list of categories of work that must be executed in Nigeria.
At VALIANT, we are of the view that maximising local content is not only politically sensible but it makes good business sense as lower composite rates can be realised by increasing Nigerian labour and materials resources, especially where these are readily available and the prices are commercially attractive.
